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WV457

Building A Bridge To Your Future    


Overview

West Virginia Retirement Plus is a supplemental retirement plan designed to provide an extra savings alternative for all state, county, city and other political subdivision employees. This retirement program is similar to a 401(k) plan in structure except that it is designed to supplement a participant's primary retirement plan.

Employee contributions to the Plan are managed via convenient payroll deductions. There are a variety of quality investment options including one stable value fund and twenty five mutual funds representing various asset classes. Learn more here: Plan Summary.

Additionally, State Government employees are eligible for a limited contribution matching program. Contact one of our ING representatives or click on the Contribution Matching Program link below for more information.

More Information:

  

 






The Internal Revenue Service recently announced the 2010 Cost of Living Adjustments applicable to 457 deferred compensation plans.

The base maximum contribution was unchanged at $16,500 (in tax year 2010). The age based "catch up" is $5,500 in 2010. This means that participants age 50 or over can contribute a maximum of $22,000 in tax year 2010.

Participants eligible for the "special catch up" maximum may contribute $33,000 in 2010. There are specific qualifications to utilize the maximum provision. Please contact one of our ING representatives for more information.